> For the complete documentation index, see [llms.txt](https://flex-defi.gitbook.io/flexdefi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://flex-defi.gitbook.io/flexdefi/order-book.md). # Order Book Today’s largest DEXs (Uniswap, PancakeSwap) operate using AMM, which determines the price of a token based on the proportion of tokens in the liquidity pool. AMM has crucial disadvantages — you can’t provide a price other than the market price; and you must provide liquidity to both sides of a pool. Flexdefi's automated decentralized on-chain limit order books (Flexdefi Exchange) will allow users to submit orders with the freedom and control of a centralized exchange. This allows entirely new forms of trading and allows market makers to participate, which has not been possible on popular BSC exchanges such as PancakeSwap. We will extend the protocol to allow cross-chain swaps using our FlexDefi Logic. We will first launch an AMM powered FDE (FlexDefi Swap) to provide utility and rewards to early adopters and will release Flexdefi Exchange Q4 2022. Adoption of FlexDefi Exchange will be incentivized with low relative fees and referral bonuses on trades. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://flex-defi.gitbook.io/flexdefi/order-book.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.